Sponsoring Agency: InterTradeIreland
Type of Fund: Challenges, Competitions or Prizes
Deadline Available: USD $50,000 to $500,000
Deadline Date (mm/dd/yyyy): 05/28/2021
Size of the Fund: Not Available
For start-ups and early-stage businesses, the Seedcorn Investor Readiness Competition is the perfect chance to get ‘investor ready’. The Seedcorn contest mirrors the real-life investment process. Participants, who are in with a chance to win a share of a €300,000 cash prize fund, can secure expert feedback on their business plans and pitches, improve their investor readiness and gain exposure to investors, all while boosting their firm’s profile.
The objectives of the Competition are:
• To assist start up companies in raising new equity;
• To enhance awareness of the various sources of private equity or venture investment finance;
• To stimulate activity/development of investor ready projects;
• To create a flow of quality business proposals/ deal flow;
• To accelerate the development of winning projects;
• To create new venture role models.
• New start company
o For companies under five years old at 31 May 2021 and who are seeking to raise new equity of between €50,000 and €299,999.
• Early-stage company
o For companies under five years old at 31 May 2021 and who are seeking to raise in excess of €300,000.
• There are ten cash prizes up for grabs and entrepreneurs compete against each other regionally before competing for the all-island Best New Start and Best Early Stage Company titles.
• Every business idea / plan submitted is reviewed by our investment experts and you are given individual feedback on request. Shortlisted companies also get a unique opportunity to pitch to investors and business leaders.
o €100,000: Overall winner
o €50,000: Best Category Winner
o 6 x €20,000: Regional Winners
o €10,000: Special Award Winner for the best venture stemming from a university spin-out or support programme
o €20,000: Low Carbon / Green award
Who Can Enter
• The competition is aimed at independent ventures incorporated on the island of Ireland (Ireland or Northern Ireland) in the seed, start up or early stages of business development and ideally targeting international markets.
• The competition is for individuals or venture teams, who have created, manage and own such ventures.
• The promoters/founder entrepreneurs are to have played a major role in conceiving the venture, continuing to have key management roles and to own significant equity.
• Ventures which have already raised external equity in excess of €1m (or sterling equivalent) are not eligible.
The judges are looking for the same elements as a potential investor including:
• High growth companies
• The optimum risk/reward profile
• A strong management team
• Ability to exit
More information at: https://intertradeireland.com/funding/seedcorn